"The cure for high oil prices is high prices, or so says the commodity industry’s adage. Let the invisible hand of the free market work its magic. High prices will simultaneously reduce demand and increase supply, eventually making the good less expensive.
This has proven true for centuries: In commodities, a bust follows every boom. It happened after the Klondike Gold Rush in 1896, during the second oil crisis in 1979 and following the most recent US shale boom a decade ago. Generations of petroleum engineers, geologists and financiers have grown up swearing by it."
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